Louisiana Teachers' Retirement System, Baton Rouge, rehired Brandywine Global Investment Management and Pacific Investment Management Co. to run $600 million each in global fixed income, said Dana Brown, director of public markets.
The $16.6 billion pension fund had issued a solicitation for proposals earlier this year because the contracts of the two managers were due to expire. Rather than select finalists, the board on Oct. 7 approved rehiring Brandywine and PIMCO.
Investment consultant Aon Hewitt Investment Consulting assisted.
Separately, the pension fund committed up to $100 million to Platinum Equity Capital Partners IV, a buyout fund. The pension fund previously committed $50 million to a prior Platinum Equity fund in 2011.
Also, the pension fund committed up to $75 million to HPS Mezzanine Fund III, a private debt fund managed by HPS Investment Partners. It is the pension fund's first commitment to an HPS fund.
In real estate, the pension fund committed up to $75 million to Lone Star Fund X, a real estate debt fund managed by Lone Star Funds, and up to $50 million to AEW Senior Housing Investors III, a value-added real estate fund managed by AEW Capital Management. The pension fund previously committed up to $75 million to Lone Star Fund IX in 2014 and up to $40 million to AEW Senior Housing Investors II in 2014.